What is Madison’s minimum cash balance?
The minimum cash balance is $500 which may be paid as follows:
- Personal Check (non-IRA deposit)
- Credit Card (a $25 administrative fee will apply)
- Deduction of $500 from your IRA funds
The minimum balance is not a cost to you. Madison will only deduct funds from the $500 minimum for quarterly fees if an accountholder is in arrears and does not provide any other payment method. Upon account termination, the $500 minimum balance is returned to the accountholder.